Michael Vanstone of Burgess Rawson, said the sales showed the area remained a commercial property hot spot.

Shop 1 at 1320 Pittwater Road in Narrabeen, which is leased by real estate agency Laing + Simmons, sold for $655,000 on a 5.79% yield while Shop 2, a long-term optometrist-occupied site, sold for $650,000 on a 5.77% yield.

Mr Vanstone said the properties represented “robust investment value in a tightly held region”.

“Quality retail investments such as this, that are within affluent beachside suburbs, are extremely rare to come by and with these assets offering long-term trading history of eight and 20 years, the new buyers can be at ease knowing the security of their investment,” he said.

“Narrabeen is an iconic beach known for a consistent surf break and both properties are located in the town’s vibrant retail strip alongside Commonwealth Bank, H & R Block, Anytime Fitness, Myride Cycles, Baker’s Delight and Woolworths.

“Boosting the investment appeal, each shop has fantastic visibility with 30,000-plus vehicles passing daily — the foot traffic in this area is high, which bodes particularly well for the tenants and buyers alike.”

Both properties on Pittwater Rd are tenanted on new five-year leases to 2023, with options to 2028. Laing + Simmons have recently undertaken a high-end refurbishment in Shop 1, and the optometrist in Shop 2 has a strong trading history of 20 years from the site.